Disputed item to be removed from TU

[Anonymous]

I had a charged off account that I paid in full in August.  

In September, I applied for an auto loan which was approved.  

I asked the bank to remove the item from my credit report.  They said if I dispute it they will remove it.  

So I disputed through TU and got an email today saying to log in and see the results of my dispute.  

And yes they are going to delete this charge off account from my report.  

Will this result in an increase to my credit score? 

Just wondering if I can expect a nice boost after that comes off. 

[Anonymous]

If you have access to any credit monitoring service with your current TU scores, FICO preferably, you'd see any possible changes

[Anonymous]

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@Anonymous wrote:

I had a charged off account that I paid in full in August.  

In September, I applied for an auto loan which was approved.  

I asked the bank to remove the item from my credit report.  They said if I dispute it they will remove it.  

So I disputed through TU and got an email today saying to log in and see the results of my dispute.  

And yes they are going to delete this charge off account from my report.  

Will this result in an increase to my credit score? 

Just wondering if I can expect a nice boost after that comes off. 

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We dont know what the rest of your credit profile looks like or if you have any other derogatory accounts or info, so it would be very hard to predict if you would get a boost.

We do not know if it was revolving or installment CO. If it was already paid and revolving credit, you got a boost from doing that. Not sure how much of a boost you would get from the paid CO being removed.

I just had my only paid CO get removed (aged off) and saw +0 increase from it.

So it will be very hard to say with or without info if you should expect an increase, but it will at least look better when applying for a loan!

[Anonymous]

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@Anonymous wrote:

I had a charged off account that I paid in full in August.  

In September, I applied for an auto loan which was approved.  

I asked the bank to remove the item from my credit report.  They said if I dispute it they will remove it.  

So I disputed through TU and got an email today saying to log in and see the results of my dispute.  

And yes they are going to delete this charge off account from my report.  

Will this result in an increase to my credit score? 

Just wondering if I can expect a nice boost after that comes off. 

---

Paying the chargeoff in full, doesn't qualify for a dispute removal.  However, if you dispute for inaccuracy and there is no update/response within the 30 +/- window, then the FCRA requires removal.  Simply asking them to remove an item, and getting a response that they will, if you dispute, seems unlikely and the rep promising that is probably no longer there.

I am concerned that if the item was removed prematurely, (before the 7 year mark and/or removal by OC), it could return.

But, that does not deminish cause for celebration. Congrats!  But monitor.  You should get some points back.